Stock futures trade lower on global growth, tariff concerns

Mounting headwinds to stocks in 2019?

Kadina Group President Gary B. Smith and Diversified Private Wealth Advisors’ Dominick Tavella on the outlook for stocks.

Equity futures pointed to a lower open on Thursday as Morgan Stanley fell short on fourth-quarter profit and revenue.

Continue Reading Below

Concern over China's economic outlook and possible U.S. tariffs on European cars shook global markets.

Dow Jones futures were lower by 0.4 percent. The S&P 500 slipped 0.4 percent and the Nasdaq Composite was off 0.4 percent.

Morgan Stanley reported fourth-quarter earnings per share of $0.80 on revenue of $8.5 billion on Thursday. Analysts expected profit per share of $0.89 on revenue of $9.24 billion.

On an adjusted basis due to a $0.07 tax benefit, EPS came in at $0.73.

Advertisement

Shares turned lower following the release of the results.

Ticker

Security

Last

Change

%Chg

MS

MORGAN STANLEY

44.49

+1.61

+3.75%

JPM

JP MORGAN CHASE & CO.

102.50

+0.82

+0.81%

GS

GOLDMAN SACHS GROUP INC.

197.08

+17.17

+9.54%

C

CITIGROUP INC.

62.19

+0.81

+1.32%

Europe's carmakers fell as much as 1.5 percent after U.S. Senate Finance Committee Chairman Chuck Grassley said he thought President Trump was "inclined" to impose tariffs on European cars to win better terms on agriculture.